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Shenandoah Telecommunications Company (Shentel) has been a cornerstone in the telecommunications industry since 1902. From its humble beginnings as a small phone company in Virginia’s northern Shenandoah Valley, Shentel has evolved into a major provider of advanced broadband services, digital TV, high-speed internet, and phone services across Virginia, West Virginia, and Maryland.
Shentel operates through two main business segments: tower and broadband. The tower segment is responsible for leasing company-owned cell tower spaces to other wireless communication providers, while the broadband segment offers broadband Internet, video, and voice services to residential and commercial clients. Notably, the broadband segment drives the majority of Shentel's revenue, with significant contributions from residential and small to medium-sized businesses.
In recent developments, Shentel has strategically positioned itself for growth. The company has announced the sale of its tower business, which will provide additional growth capital to expand its Glo Fiber line of business. The planned expansion aims to reach approximately 600,000 homes and businesses by the end of 2026. Furthermore, Shentel has secured $356 million in committed financing to support its acquisition of Horizon Telcom. This acquisition will bolster Shentel's fiber optic network by adding approximately 5,500 route miles of fiber.
Shentel has a regional network that encompasses around 15,400 route miles of fiber and 219 macro cellular towers. The company's services include broadband internet, video, voice, fiber optic Ethernet, wavelength leasing, and tower colocation leasing. Recent expansions include a franchise agreement to deploy next-generation fiber-to-the-home (FTTH) broadband services to Frederick County, Maryland, targeting over 40,000 homes and businesses. The company prides itself on providing high speeds, low latency, and unmatched reliability through its FTTH connections.
Shentel's subsidiary, Glo Fiber, offers multi-gigabit broadband internet, live streaming TV, and digital phone services. Glo Fiber's network is built on state-of-the-art technology, providing symmetrical upload and download speeds of up to 5 gigabits per second (Gbps). Their services have earned a reputation for superior local customer service across multiple states.
Financially, Shentel uses Adjusted EBITDA as a key performance metric to evaluate operational effectiveness. This non-GAAP measure helps in period-to-period comparisons by excluding items that are not comparable across reporting periods. The sale proceeds from the tower business and Horizon acquisition are expected to provide Shentel with financial flexibility for future growth.
Overall, Shentel's commitment to serving rural and underserved markets with advanced communication services underscores its mission to ensure these communities receive the same level of service as larger metropolitan areas. For more information, visit www.shentel.com.
Shenandoah Telecommunications Company (Shentel) will announce its first quarter 2023 financial results before the market opens on April 28, 2023. A conference call to discuss these results will take place at 8:00 AM ET on the same day, accessible via webcast.
Shentel, operating in the Mid-Atlantic United States, offers a variety of broadband services including broadband internet, video, and voice through a state-of-the-art fiber-optic network that spans over 8,300 route miles and includes over 220 cellular towers. The company aims to provide insights into its business highlights and performance metrics during the call.
Shenandoah Telecommunications Company (NASDAQ: SHEN) has launched its 5 Gig fiber internet service under the Glo Fiber brand, expanding access to over 147,000 homes across Virginia, West Virginia, Maryland, and Pennsylvania. This premium service supports multiple connected devices seamlessly on a 100% fiber optic network. Glo Fiber’s offerings emphasize symmetrical upload and download speeds, reliability, straightforward pricing, and local customer service. This launch aims to satisfy increasing consumer demand for high-speed internet, driven by the rise in remote work and connected devices.
Glo Fiber, powered by Shenandoah Telecommunications Company (SHEN), is set to expand fiber-to-the-home broadband services in State College Borough and Ferguson Township, Pennsylvania. Construction will start in 2024, aiming to connect over 13,000 homes and businesses. This deployment offers internet speeds up to 5 Gbps with reliable and symmetrical upload/download speeds. The expansion utilizes Shentel's extensive network to enhance service and support local growth. Glo Fiber prides itself on customer service and competitive pricing, aiming to transform the connectivity landscape in these vibrant communities.
Glo Fiber Business, a division of Shenandoah Telecommunications Company (SHEN), has formed a strategic partnership with Globalinx, a Tier-III data center in Virginia Beach. This collaboration aims to enhance connectivity for Glo Fiber Business customers, providing direct access to the Virginia Beach Cable Landing Station, which links domestic fiber networks to international subsea cables. The agreement facilitates low-latency communication, benefiting various sectors including businesses, municipalities, and educational institutions across Virginia and West Virginia. Both companies emphasize that this partnership will bolster their service offerings while ensuring reliable and efficient connectivity.
Shenandoah Telecommunications Company (SHEN) reported its Q4 and full-year 2022 results, marking a 9.0% revenue growth to $267.4 million. Glo Fiber data customers surged 113.5% year-over-year, totaling approximately 24,000. However, the company faced a net loss of $8.4 million in 2022, contrasting with a net income of $7.9 million in 2021, partially due to the discontinuation of Beam operations, leading to $12.2 million in restructuring charges. Despite these challenges, adjusted EBITDA increased 15.6% to $76.0 million, driven by operational successes in the Glo Fiber business plan.
Shenandoah Telecommunications Company (SHEN) is set to release its Q4 and full-year 2022 financial results before market open on February 22, 2023. A conference call and webcast will follow at 8:30 a.m. ET to discuss financial outcomes and business highlights. The company provides broadband services through advanced fiber-optic and cable networks across the Mid-Atlantic United States, offering internet, video, voice services, and colocation leasing. Shentel boasts over 8,000 route miles of fiber and 220 macro cellular towers, positioning it as a significant player in the telecommunications sector.
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